Should I Have Bought This?

by | Nov. 17, 2008


Dear Dave, My wife and I bought long-term care insurance 17 years ago. We're now in our eighties. We've never had to use this insurance, and we were wondering if buying it was the right thing to do. Ken Dear Ken, You bet you did the right thing! A nursing home costs $30,000 to $50,000 a year. That kind of money will crack and scramble a nest egg in no time flat. I strongly recommend buying long-term care insurance by age 60 that will cover in-home care or nursing home care if needed. It's absolutely vital! The fact that you haven't had to use the insurance is a blessing and a wonderful testament to the way you've lived your lives. God bless you both, Ken. - Dave
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